Venmo offers new features of the discount card and payment option

Venmo aims to be more than just an application to push friends with the latest to update.

On Wednesday, the Palin -owned payment platform appeared on many of the advantages of new discount cards and expand the ability to pay payments with retailers such as Tiktok Shop and Uber. Venmo signal updates try to become more than Fintech service with full services, not just applying counterpart payments to counterpart.

The renovated Venmo discount card, which was first offered in 2018, is now characterized by the ability to pay, which can help the Venmo set itself to capture a greater share of daily transactions. In addition, card holders now get 15 % cash in Lyft, MCDONALD’s, Sephora, Walgrens and Walmart.

Venmo has also launched the option of card holders to start automatic transport operations, enabling them to sched out transfers and put specific balance doorstep that automatically re -download when the balance decreases to less than a certain level. Users can also make international purchases without incurring foreign transaction fees, a noticeable feature for frequent travelers.

For all shoppers, Venmo now allows users to make payments in brands such as Domino’s, Instacart, Tiktok Shop and Uber.

These updates come after applying money Q1 hombledHer mother company, Block, also revealed that consumers used the application less than expected, which led to a total profit of $ 1.38 billion, which is less than his expectations.

In contrast, Venmo recorded a 20 % increase in revenue compared to the previous year. The use of payment with Venmo jumped, with an increase in the payment volume by more than 50 %, and the number of monthly active accounts by 30 %.

Although Venmo has achieved success, Zelle continues to maintain a large part of the peer payment market in the United States, which achieves a record number more than the plus 1 trillion dollars In the payment volume in 2024.